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20130121
20130129
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Jan 23, 2013 4:00pm PST
they were selling subprime melt down, mike tyson knockout. they knew--they knew. how can the justice department possibly say oh, golly gee the bangers didn't know at all? >> here's the deal, there is nothing illegal about me selling you a bunch of crap. the crime is if i know that that stuff is crap, and i misrepresent it and warranty it as good. the banks certainly knew, and you're quoting the right stuff here. the morgan stanley story that broke today is evidence of this, that they knew the stuff was no good. but you have to then dig into the contracts and find out what they were representing the stuff to be. there were people out there willing to buy crap. on the other hand there were others who were being misled. there's a lot of talk of dumb money, muppets they're good suckers. some of these entities, whether they're pension funds hedge funds--new jerseyly not hedge funds. they're in a sophisticated category, but others, insurance companies, are coming forward and saying they were clearly defrauded. >> cenk: right that's the critical part of it, right? when they dig in with thei
Search Results 0 to 1 of about 2 (some duplicates have been removed)